New owner gives Raith ‘best chance’ of promotion

Chairman Alan Young insists a takeover of Raith Rovers can only be good for the club as they bid to recover from last season’s calamitous relegation from the Championship.

Ownership of the Kirkcaldy club has changed hands, with businessman and director John Sim, CEO of accountancy network PKF International, assuming control in a shake-up brought on by the drop to League 1.

A deal has been struck by which Stark’s Park Properties (SSP), the company which owns the stadium and of which Sim is the majority shareholder, becomes the largest stakeholder in the club.

Since a takeover by New Raith Rovers in 2005, the two companies have operated separately, but the new structure now gives SSP the controlling interest in the football club.

Financial input from Sim was key to Rovers remaining full-time this season as they try to bounce back to the Championship at the first attempt and the agreementhasalsoclearedsome debts accrued last term.

Despite the change of ownership, there are not expected to be any major alterations in the day-today running of the club, with directors already redistributing jobs to cope with the recent departure for financial reasons of CEO Eric Drysdale.

Young is convinced the takeover makes sound sense given the challenges presented by relegation.

He said: “There’s absolutely no doubt this is the best move for the football club. The disaster that befell us was relegation last season, which frankly no-one thought would happen, and it was only with the support of Stark’s Park Properties and John Sim that we were able to stay full-time.

“Thetakeoverallowsusto withstand the anticipated losses of staying full-time, likely to be somewhere in the region of £150,000, and a number of debts from last year have been cleared. It gives us financial stability and, by allowing us to stay full-time, gives us the best possible opportunity of being promoted.”